Some Taylor Swift Fans Assume New Album Will Throw Blake Lively Shade

Taylor Swift damn-near broke the internet -- again -- when she dropped news of an upcoming album Monday night ... and some people are already debating whether Blake Lively will be in her lyrical crosshairs.

Shortly after TS announced her 12th studio album titled "The Life of a Showgirl" ... social media went bananas -- most fans lost their minds with joy, while others let their hate flag fly by dragging Blake into the conversation.

An inner-circle source tells TMZ … Blake is excited for new music from Taylor … but she won’t be shocked if some TS fans scrutinize lyrics to fabricate perceived shots.

It's likely a huge reach -- even though TS is known for snide lyrics about her exes, and Blake is technically one after their high-profile rift earlier this year amid the Justin Baldoni legal saga.

TMZ broke the news TS felt used and was super pissed about some texts that came to light in which Blake called her one of her "dragons," leveraging her name in the Baldoni battle.

It's not exactly clear if their friendship has been mended to any degree ... but it's worth remembering TS is godmother to Blake and Ryan Reynolds' children -- so, at the end of the day, she's still family.

Critics of Blake, naturally, jumped all over the split ... and used it as more ammo when disparaging the actress -- especially as her lawsuit against Baldoni and his production company Wayfarer Studios continued to advance in court.